Financial Markets and Economy
See Wall Street's slow, devastating decline in one chart (Business Insider)
We've written plenty about the job cuts, high-level departures, rise of technology, weak deal-making environment, strategic initiatives, and cultural changes.
KRUGMAN: Financial markets aren't taking a Trump victory very seriously (Business Insider)
Paul Krugman stopped by Business Insider to talk to senior editor Josh Barro. Krugman discusses how financial markets view a Trump presidency.
Apple boss Tim Cook should stop whinging and pay up. There's nothing unfair about the EC's tax ruling (Independent)
The tech giant's chief executive described the Eurpean Commission's demand as "maddening" and "political crap" in an interview with Irish broadcaster RTE. What's really maddening is the refusal of multinational corporations to pay their dues
Macquire: Gold should be $2,000/oz (Value Walk)
Earlier this week, analysts at Deutsche Bank published research claiming that gold should be trading at $1,700 an ounce, due balance sheet expansion at central banks. Not to be outdone, Australian bank Macquarie has come out with an even more optimistic forecast for the price of the yellow metal.
U.S. Manufacturing Hits Rough Spot in Possible Warning on Growth (Bloomberg)
Manufacturing unexpectedly hit a rough patch in the U.S. last month. If it remains stuck, it would again be up to American consumers to drive economic growth.
Cash Is This Hedge Fund’s Refuge With Whole World in Wrong Place (Bloomberg)
Holding cash is the best protection against bond and stock markets inflated by record monetary stimulus.
That’s the view of Norwegian hedge fund firm Sector Asset Management, which manages $1.6 billion, and holds as much as 50 percent in cash in one of its funds.
Want a Free Market? Abolish Cash (Bloomberg)
If you believe that government meddling in financial markets was responsible for the last recession and the lackluster recovery, you might be right. But probably not in the way you think.
China encourages more VC funding, promises foreign firms equal treatment (Reuters)
China plans to grant foreign venture capital investors equal treatment compared to domestic firms, give them better market access and cut red tape, Xinhua news agency reported on Thursday.
To Beat Tesla, China Plans To Boost Electric Vehicle Sales 10-Fold (Think Progress)
The electric vehicle revolution is now as unstoppable as the renewable revolution. China understands that fact better than any other country.
A ¥9 Trillion Hole Emerges Inside The BOJ's Balance Sheet: "It’s A Pretty Dangerous Situation" (Zero Hedge)
When it comes to accounting conventions, the Fed and the BOJ differ in one major way: unlike the Federal Reserve, the BOJ counts its bond holdings at the purchase price, minus amortization costs.
IMF's Lagarde says likely to cut growth outlook as trade wanes (Reuters)
International Monetary Fund Managing Director Christine Lagarde said the institution will likely downgrade its 2016 global growth forecast again as economic prospects are dimmed by weak demand, flagging trade and investment and growing inequality.
Deutsche Bank Refuses Delivery Of Physical Gold Upon Demand (Zero Hedge)
According to its website, the publicly traded company "provides investors with an efficient instrument to participate in the performance of the gold market. Xetra-Gold’s combination of features – cost-efficient trading and the right for physical delivery of gold – makes it an attractive product."
The Central Banks Are Now Ready To Launch Their 'Brave New World' (Alt-Market.com)
The latest Federal Reserve meeting in Jackson Hole, Wyoming, is over and so far it would seem that the general investment world is not too happy about Janet Yellen’s statements as well as those of other Fed officials. In fact, many people are looking for some simple clarity as to what the central bank is actually planning.
Tesla: How Much Worse Can It Get? (Seeking Alpha)
There are many out there that will argue I am biased against Tesla Motors (NASDAQ:TSLA). That isn't the case, as I try to provide the fairest opinion possible, but it is times like now that show the majority of the news is negative. At times like these, one must wonder how much worse it can get for Elon Musk and his dreams.
Politics
Trailing Hillary Clinton, Donald Trump Turns to Political Gymnastics (NY Times)
Donald J. Trump’s campaign was teetering early last month, with an increasingly isolated candidate and a downcast staff that seemed to lurch from crisis to crisis. Having fired his campaign chairman and retooled his message, Mr. Trump was still far behind Hillary Clinton in the polls, and Republicans were running away from him.
$1.56 Billion Spent on 2016 Election so Far, Super PACs Leading the Way (The Street)
A recent study co-authored by the Wesleyan Media Project and Center for Responsive Politics (WMP/CRP), found that around 2.4 million political ads have aired this election cycle at a total cost of $1.56 billion.
Technology
Samsung's 88-inch Quantum-dot SUHD TV leapfrog's LG's (Mashable Asia)
BERLIN — At its IFA 2016 press conference, Samsung unveiled the 88-inch KS9800, the world's largest quantum-dot TV on the market.
You'll soon be able to buy this futuristic-looking, hydrogen car with a 300-mile range (Business Insider)
The car, dubbed the Rasa, will get in the hands of some UK residents in 2017.
Most $100,000 cars are babied by their owners. Never taken out except on a warm Sunday. Garaged and kept with extremely low mileage. Only driven by the owner, not even allowed to be driven by a spouse, much less a stranger.
(Update: recall to be announced soon) Reports: Samsung considering Note 7 recall, battery pack to blame (Android Authority)
Update: An unnamed Samsung official confirmed to Yonhap that a recall will take place. The announcement could happen as soon as this weekend or early next week, but Samsung is reportedly still working on a solution to the crisis. The report also gives us an idea of the size of the problem:
Anybody wanna buy a $3,200 Sony Walkman? (Mashable Asia)
Sony's out of its mind. At IFA 2016, the company unveiled a new high-resolution Walkman audio player… that costs $3,200.
As part of its Signature Series and aimed at audiophiles who have "golden ears," the new NW-WM1Z isn't just expensive, it's also one chunky and heavy music player. It's as bulky as an original iPod
Health and Life Sciences
EpiPen Only Scratches The Surface Of The Drug-Price Crisis, JAMA Study Says (Forbes)
Last week, when the Mylan MYL -1.02% EpiPen pricing scandal was dominating the airwaves, the Journal of the American Medical Association (JAMA) published a study with a sobering bottom line: Per capita drug spending in the U.S. is $858 per year, vs. $400 in 19 other industrialized nations.
If you can solve this math problem you'll get a $1 million prize — and change internet security as we know it (Business Insider)
One of the deepest questions in computer science is called P vs. NP, and answering the question would earn you a million-dollar prize. P vs. NP is one of the Clay Mathematics Institute Millennium Prize Problems, seven problems judged to be among the most important open questions in mathematics.
Insulin Prices Are Skyrocketing, Too (Money)
The EpiPen isn’t the only life-saving medication that has experienced egregious price increases in the past decade; according to a study from the the Journal of the American Medical Association published this spring, prices for insulin are also rising—to such a degree that some Americans with diabetes simply aren’t buying it anymore.
Life on the Home Planet
Florida Braces for First Hurricane Landfall Since 2005 (NY Times)
Hurricane Hermine, which once appeared poised to disintegrate without ever becoming a named weather system, moved slowly through the Gulf of Mexico on Thursday, preparing to make landfall in Florida by early Friday and becoming the first hurricane to strike the state since 2005.
Eton boys secure private audience at the Kremlin with Vladimir Putin (The Guardian)
Ministers wait hours for an audience with Vladimir Putin, CEOs sit nervously for months hoping for a summons to see him, and even Donald Trump was stood up during a 2013 visit to Moscow and told Putin was too busy to see him.
10 facts about American workers (Pew Research Center)
More than 150 million Americans are part of the U.S. workforce, and many of them (but not all) will spend the Labor Day national holiday away from their desks, cash registers and workbenches.
ETON and the making of a modern Elite (The Economist 1843)
One of Simon Henderson’s first decisions after taking over last summer as headmaster of Eton College was to move his office out of the labyrinthine, late-medieval centre of the school and into a corporate bunker that has been appended (“insensitively”, as an architectural historian might say) to a Victorian teaching block.
